Companies Stellantis NV FollowMILAN, June 5 (Reuters) - Carmaker Stellantis (STLAM.MI) and Belgian metals recycler Galloo have entered exclusive talks to create a joint venture focused on parts and material recycling from end-of-life vehicles, the two companies said on Monday. The JV will offer its services to Stellantis and other automakers. Stellantis has set a goal to have 40% of green materials in its vehicles by 2030. The world's third largest carmaker by sales has plans to boost recycling revenue ten-fold and parts revenue 4-fold by 2030, compared to 2021, targeting over 2 billion euros ($2.1 billion) in revenue from its circular economy business by that date. Jones said the JV would also rely on Stellantis' main circular economy hub, which the group is setting-up in its Mirafiori complex in Turin, Italy.

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Persons: Galloo, Stellantis, Alison Jones, Jones, Giulio Piovaccari, Gilles Guillaume, David Evans Organizations: MILAN, JV, Global, Thomson Locations: France, Belgium, Luxembourg, Europe, Stellantis, Turin, Italy